Boston Family Office LLC Cuts Holdings in AbbVie Inc. (NYSE:ABBV)

Boston Family Office LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 73,506 shares of the company’s stock after selling 1,315 shares during the period. Boston Family Office LLC’s holdings in AbbVie were worth $13,062,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after purchasing an additional 983,888 shares during the period. StoneX Group Inc. raised its stake in shares of AbbVie by 46.7% during the 4th quarter. StoneX Group Inc. now owns 47,991 shares of the company’s stock worth $8,528,000 after buying an additional 15,271 shares during the period. Tradewinds LLC. lifted its position in shares of AbbVie by 1.8% during the 4th quarter. Tradewinds LLC. now owns 11,224 shares of the company’s stock valued at $2,146,000 after buying an additional 197 shares in the last quarter. National Bank of Canada FI grew its stake in AbbVie by 15.0% in the 4th quarter. National Bank of Canada FI now owns 1,431,817 shares of the company’s stock valued at $254,394,000 after acquiring an additional 187,271 shares during the period. Finally, Franklin Resources Inc. increased its holdings in AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after acquiring an additional 3,373,156 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 over the last 90 days. 0.25% of the stock is owned by insiders.

AbbVie Stock Up 2.2 %

Shares of NYSE ABBV opened at $209.83 on Tuesday. The company has a market capitalization of $371.19 billion, a P/E ratio of 87.43, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a 50 day simple moving average of $198.27 and a 200-day simple moving average of $189.02. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the firm posted $2.79 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.13%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Analyst Ratings Changes

Several analysts have recently issued reports on ABBV shares. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. UBS Group lifted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. BMO Capital Markets lifted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.